At the current market price, the additional shares purchased by LIC during the quarter are worth about Rs1,450 crore, while that of Singapore government is worth about Rs100 crore
New Delhi: State-run insurance giant Life Insurance Corporation of India (LIC) and the Government of Singapore have hiked their stakes in Reliance Industries (RIL( with the purchase of shares worth over Rs1,550 crore during the last quarter, reports PTI.
LIC increased its stake in Mukesh Ambani led RIL from 7.09% to 7.77% during the quarter ended 30 June 2012.
During the same period, the Government of Singapore also raised its RIL holding marginally from 1.06% to 1.22%.
At the current market price, the additional shares purchased by LIC during the quarter are worth about Rs1,450 crore, while that of Singapore government is worth about Rs100 crore.
LIC’s holding in RIL now stands at about 25.2 crore shares, rising by close to two crore in the April-June quarter, while Singapore government’s RIL holding has risen by more than 15 lakh shares to 3.94 crore shares during the period.
On the other hand, the holding of another major non-promoter shareholder, Franklin Templeton Investment Funds, in the company declined marginally by 4.26 lakh shares (worth about Rs31 crore) to 1.22%.
The promoter holding in RIL rose by 0.4% to 45.15% during the quarter. The total FII (Foreign Institutional Investor) holding in RIL, however, declined from 17.55% to 17%, as they sold shares worth an estimated Rs1,300 crore.
At the same time, the overall holding of DIIs (Domestic Institutional Investors) rose from 10.71% to 11.2%.